Barclays uses cookies on this website. They help us to know a little bit about you and how you use our website, which improves the browsing experience and marketing - both for you and for others. They are stored locally on your computer or mobile device. To accept cookies continue browsing as normal. Or go to the cookies policy for more information and preferences.

Annual report 2017

Chairman's Statement

While a number of challenges remain, the launch of the ringfenced bank expected at the beginning of April this year largely draws a line on large-scale restructuring, and we look forward to a more traditional business pattern, including the return to a more normal dividend pattern.

With 30,000 colleagues and 24 million customers and clients, Barclays UK strives to help people move forward by providing personalised and perfect experiences, delivered by passionate colleagues. In 2017, we have made significant progress in establishing the ring-fenced bank, protecting our customers and clients and transforming our business through digitisation and automation.

Barclays International is the diversified transatlantic, wholesale and consumer bank within Barclays Bank PLC. Encompassing the Corporate and Investment Bank, Barclaycard International and Private Bank & Overseas Services businesses, our dual home markets in the UK and US anchor our business in the two most important global financial centres.

Return on Tangible Equity 3.4%(6.6% excluding the impact of the US deferred tax assets re-measurement)

Cost:Income ratio 69%

Risk Weighted Assets £210.3bn

Head Office & Group Service Company

The Head Office function contains the central operations of the Group. The reintegration of remaining legacy assets and businesses in the second half of 2017, the function became a more material contributor to the Group results. Going forward, many of the Head Office functions will be within the Group Service Company.

Our business model

Barclays PLC Group operates via two clearly defined divisions – Barclays UK and Barclays International – with a diversified business model that we believe helps enhance our resilience to changes in the external environment.

Our business model is aligned with our strategy of being a leading, diversified transatlantic bank with global reach.

We aim to deliver a broad spectrum of value through the way we do business, including

Superior service to enable customers and clients to achieve their ambitions

Challenging and fulfilling careers for our people in a values-driven organisation

Long-term sustainable returns for our investors

We work together with regulators to help reduce risk in the industry and provide a more sustainable banking landscape over the long term

Employment and growth in the economies in which we operate

Engagement with governments and society in general to address societal issues and needs

Innovation through our products and services is helping increase access to finance and generating dividends and returns.

Our strategy

As a leading, diversified, transatlantic bank with global reach, our goal is to support our stakeholders via a commercially successful business that generates long-term sustainable returns. We reflect our strategy in a number of financial and non-financial measures.

Performance indicators

Our approach reflects the way in which management monitors the performance of the Group, allows for a holistic assessment and sets out our progress towards the strategic goals of the organisation.

By incorporating a broad range of financial and non-financial measures, our framework is focused on achieving positive and sustainable outcomes for our diverse group of stakeholders, and influences incentive outcomes for Barclays’ employees.

Colleague

A diverse and inclusive workforce in which colleagues of all backgrounds are treated equally and have the opportunity to be successful and achieve their potential

Engaged and enabled colleagues

A positive conduct and values-based environment

Citizenship

Making decisions and doing business that provides our clients, customers, shareholders, colleagues and the communities which we serve with access to a prosperous future, through our Shared Growth Ambition

Proactively managing the environmental and societal impacts of our business

Underpinned by how we behave towards all our stakeholders through our conduct and culture